Today's Technical View on United States Steel, Gerdau, Commercial Metals, and Mechel OAO PR Newswire LONDON, April 8, 2013 LONDON, April 8, 2013 /PRNewswire/ -- Weak job data hurt equities throughout Friday's session and all major indices closed moderately lower, showing across the board weakness. The coming week is also likely to produce a weak performance as concerns about economic growth grow. Political uncertainty with North Korea is also expected to keep markets subdued. Our research team analyzed the Basic Material sector and tracked the performance of major companies like United States Steel Corporation (NYSE: X), Gerdau SA (NYSE: GGB), Commercial Metals Company (NYSE: CMC) and Mechel OAO (NYSE: MTL) from the Steel & Iron industry. StockCall initiated free in-depth technical analysis on X, GGB, CMC, and MTL which are currently available upon sign up at http://www.stockcall.com/research United States Steel Corporation closed its Friday's trading session at $17.28, down 1.54 percent from its previous close. The stock shows a bearish trend but currently is in oversold territory with a Relative Strength Index of 23.66. It is likely to move up in the coming trading sessions and may find support at $17.02. Upon breaching this level, it may go down to $16.88 level. The company traded 10.85 million shares during the session, and its stock oscillated in the range of $17.01 and $17.53. The stock has declined 24.97 percent in the past 52 weeks. It is currently trading below its 20-day moving average price of $19.44, confirming its bearish level. Sign up for the free technical analysis on X at http://www.StockCall.com/X040813.pdf Gerdau SA is currently trading above its 20-day and 50-day moving average price and is in a neutral mode. It also ended its latest trading session 3.13 percent higher at $7.58, further confirming this trend. Gerdau exchanged 6.61 million shares during Friday's session, above its regular trading volume of 6.11 million. The stock has underperformed the broader markets and has lost 14.25 percent so far this year. However, it is likely to go up to $7.63 in the coming trading sessions. Its second resistance level is at $8.24. The company commands market capitalization of $13.04 billion. Download the free report on GGB by registering at http://www.StockCall.com/GGB040813.pdf Commercial Metals Company closed its Friday's trading session with a mild downward movement, accompanied with above average volume. The stock ended at $14.41, down 0.07 percent from its previous close. It traded in the range of $14.14 and $14.48 during the session. The company is highly volatile as it commands beta of 1.57. The company's current market capitalization stands at $1.68 billion. The stock has lost 0.96 percent in the past 52 weeks. Commercial Metals is likely to touch $14.80 in the coming session. Upon breaching this level, its second resistance price stands at $15.04. The free report on CMC can be downloaded by signing up now at http://www.StockCall.com/CMC040813.pdf Mechel OAO made a downward movement with 0.88 percent decline in its latest trading session. The company's stock ended at $4.48, down 0.88 percent. Its highest price point for the session stood at $4.52. In the past 12 months, the stock has declined 50 percent while its YTD loss stands at 33.83 percent. Mechel OAO trades at beta of 2.91, which implies high volatility. It traded 1.15 million shares during the session, in comparison to its regular daily volume of 2.13 million shares. Free report on MTL can be accessed by registering at http://www.StockCall.com/MTL040813.pdf About StockCall.com StockCall.com is a financial website where investors can have easy, precise and comprehensive research and opinions on stocks making the headlines. Sign up today to talk to our financial analyst at http://www.stockcall.com SOURCE StockCall.com Contact: Contact Person: William T. Knight, Email: firstname.lastname@example.org, Contact Number: +1-(646)396-9857 (9:00 am EST - 01:30 pm EST)
Today's Technical View on United States Steel, Gerdau, Commercial Metals, and Mechel OAO
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